Franc Shows Good Performance Despite Swiss Data

The Swiss franc was flat versus the US dollar and rose against the euro even though macroeconomic data released from Switzerland on Monday was in no way supportive for the currency.
Swiss Producer Price Index dropped 0.7 percent in August compared to the drop of 0.4 percent anticipated by most market participants. Retails sales were down 0.1 percent in July from a year ago, frustrating analysts who had predicted a 1.5 percent increase. Yet all the negative news did not prevent the franc from showing relatively strong performance.
USD/CHF traded at 0.9677 as of 18:31 GMT today after opening at 0.9685. EUR/CHF dropped from 1.0976 to 1.0946.

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